Political & Economic Systems 2021

People are led by an elected legislature. The head of this body is called Prime Minister

With this form of government citizens often have little or no rights or freedoms.

God and religious law are the government's authority.

Led by a king or queen who hold all of the power

only major industries are owned by government rather than individual people and companies

When one person has complete power or control over the government.

How many people want something

A person who buys a product or uses a service

free market economy

mixed economy

Democracy where citizens elect others to serve in the government.

People do not answer to any leader or government.

How much of something there is

Economic system based on money, individuals own businesses rather than the government

Leader often shares power with other parts of the government.

A person, company, or country that creates/manufactures a product

command economy

Government by a small group, the group that has power can be based on race or social class.

in this system, the government owns production and there is no privately owned property